(HTGC) Hercules Capital - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4270965084

Stock: Venture Debt, Growth Capital, Structured Debt, Equity Investments

Total Rating 18
Risk 50
Buy Signal -1.41
Asset Management -4.1
Asset Management & Custody Banks -2.0
Market Cap: 2,776m
Avg Trading Vol: 62.9M USD
ATR: 3.46%
Peers RS (IBD): 23.2
Risk 5d forecast
Volatility 31.7%
Relative Tail Risk 5.83%
Reward TTM
Sharpe Ratio -0.53
Alpha -30.33
Character TTM
Beta 0.927
Beta Downside 1.791
Drawdowns 3y
Max DD 27.75%
CAGR/Max DD 0.63

EPS (Earnings per Share)

EPS (Earnings per Share) of HTGC over the last years for every Quarter: "2021-03": 0.3, "2021-06": 0.29, "2021-09": 0.33, "2021-12": 0.35, "2022-03": 0.3, "2022-06": 0.32, "2022-09": 0.39, "2022-12": 0.47, "2023-03": 0.48, "2023-06": 0.53, "2023-09": 0.52, "2023-12": 0.56, "2024-03": 0.5, "2024-06": 0.51, "2024-09": 0.51, "2024-12": 0.49, "2025-03": 0.45, "2025-06": 0.5, "2025-09": 0.49, "2025-12": 0.48,
EPS CAGR: 13.35%
EPS Trend: 58.6%
Last SUE: -0.43
Qual. Beats: 0

Revenue

Revenue of HTGC over the last years for every Quarter: 2021-03: 98.362, 2021-06: 115.326, 2021-09: 57.355, 2021-12: 40.241, 2022-03: 29.72, 2022-06: 21.666, 2022-09: 87.429, 2022-12: 100.572, 2023-03: 134.155, 2023-06: 135.306, 2023-09: 67.917, 2023-12: 156.737, 2024-03: 133.355, 2024-06: 84.5, 2024-09: 110.795, 2024-12: 102.246, 2025-03: 92.405, 2025-06: 127.633, 2025-09: 169.31, 2025-12: 157.748,
Rev. CAGR: 56.07%
Rev. Trend: 63.4%
Last SUE: 0.29
Qual. Beats: 0

Description: HTGC Hercules Capital March 04, 2026

Hercules Capital, Inc. (HTGC) operates as a business development company (BDC). BDCs are a type of closed-end investment company that invests in small and mid-sized businesses.

HTGC provides private equity, venture debt, and growth capital. They finance privately held, venture capital-backed companies across various development stages, from mid-venture to expansion, including some public companies and special opportunity cases. Their financing solutions cover capital extension, management buy-outs, acquisitions, and recapitalizations. The firm offers asset-based financing, focusing on cash flow, accounts receivable, equipment loans, and working capital lines of credit. They also provide bridge financing for IPOs or M&A, dividend recapitalizations, and pre-IPO funding. HTGC primarily invests in structured debt with warrants, and to a lesser extent, in senior debt and equity. The firm typically targets companies operating for at least six to twelve months, with a preference for sectors like technology, SaaS, and energy technology.

Further research on ValueRay can provide detailed insights into HTGCs investment portfolio and performance metrics.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income: 339.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.07 > 0.02 and ΔFCF/TA -12.37 > 1.0
NWC/Revenue: 5.28% < 20% (prev 4.02%; Δ 1.26% < -1%)
CFO/TA -0.07 > 3% & CFO -343.2m > Net Income 339.7m
Net Debt (2.25b) to EBITDA (365.4m): 6.15 < 3
Current Ratio: 1.44 > 1.5 & < 3
Outstanding Shares: last quarter (194.8m) vs 12m ago 17.62% < -2%
Gross Margin: 87.23% > 18% (prev 0.82%; Δ 8641 % > 0.5%)
Asset Turnover: 13.00% > 50% (prev 11.25%; Δ 1.76% > 0%)
Interest Coverage Ratio: 3.96 > 6 (EBITDA TTM 365.4m / Interest Expense TTM 92.2m)

Altman Z'' 0.74

A: 0.01 (Total Current Assets 94.1m - Total Current Liabilities 65.3m) / Total Assets 4.58b
B: 0.02 (Retained Earnings 101.2m / Total Assets 4.58b)
C: 0.09 (EBIT TTM 365.1m / Avg Total Assets 4.21b)
D: 0.04 (Book Value of Equity 101.3m / Total Liabilities 2.37b)
Altman-Z'' Score: 0.74 = B

Beneish M -2.81

DSRI: 0.90 (Receivables 37.3m/32.6m, Revenue 547.1m/430.9m)
GMI: 0.94 (GM 87.23% / 82.10%)
AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98)
SGI: 1.27 (Revenue 547.1m / 430.9m)
TATA: 0.15 (NI 339.7m - CFO -343.2m) / TA 4.58b)
Beneish M-Score: -2.81 (Cap -4..+1) = A

What is the price of HTGC shares?

As of March 07, 2026, the stock is trading at USD 14.86 with a total of 2,091,856 shares traded.
Over the past week, the price has changed by +4.57%, over one month by -7.20%, over three months by -19.57% and over the past year by -11.65%.

Is HTGC a buy, sell or hold?

Hercules Capital has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy HTGC.
  • StrongBuy: 3
  • Buy: 3
  • Hold: 3
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the HTGC price?

Issuer Target Up/Down from current
Wallstreet Target Price 20.3 36.7%
Analysts Target Price 20.3 36.7%

HTGC Fundamental Data Overview March 07, 2026

P/E Trailing = 8.1676
P/E Forward = 8.0128
P/S = 5.2125
P/B = 1.2426
P/EG = 0.5247
Revenue TTM = 547.1m USD
EBIT TTM = 365.1m USD
EBITDA TTM = 365.4m USD
Long Term Debt = 2.29b USD (estimated: total debt 2.30b - short term 16.3m)
Short Term Debt = 16.3m USD (from shortTermDebt, last quarter)
Debt = 2.30b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.25b USD (from netDebt column, last quarter)
Enterprise Value = 5.02b USD (2.78b + Debt 2.30b - CCE 56.9m)
Interest Coverage Ratio = 3.96 (Ebit TTM 365.1m / Interest Expense TTM 92.2m)
EV/FCF = -14.63x (Enterprise Value 5.02b / FCF TTM -343.3m)
FCF Yield = -6.84% (FCF TTM -343.3m / Enterprise Value 5.02b)
FCF Margin = -62.75% (FCF TTM -343.3m / Revenue TTM 547.1m)
Net Margin = 62.10% (Net Income TTM 339.7m / Revenue TTM 547.1m)
Gross Margin = 87.23% ((Revenue TTM 547.1m - Cost of Revenue TTM 69.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 85.71%)
Tobins Q-Ratio = 1.10 (Enterprise Value 5.02b / Total Assets 4.58b)
Interest Expense / Debt = 1.10% (Interest Expense 25.4m / Debt 2.30b)
Taxrate = 21.0% (US default 21%)
NOPAT = 288.4m (EBIT 365.1m * (1 - 21.00%))
Current Ratio = 1.44 (Total Current Assets 94.1m / Total Current Liabilities 65.3m)
Debt / Equity = 1.04 (Debt 2.30b / totalStockholderEquity, last quarter 2.22b)
Debt / EBITDA = 6.15 (Net Debt 2.25b / EBITDA 365.4m)
Debt / FCF = -6.54 (negative FCF - burning cash) (Net Debt 2.25b / FCF TTM -343.3m)
Total Stockholder Equity = 2.14b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.07% (Net Income 339.7m / Total Assets 4.58b)
RoE = 15.88% (Net Income TTM 339.7m / Total Stockholder Equity 2.14b)
RoCE = 8.25% (EBIT 365.1m / Capital Employed (Equity 2.14b + L.T.Debt 2.29b))
RoIC = 6.77% (NOPAT 288.4m / Invested Capital 4.26b)
WACC = 5.49% (E(2.78b)/V(5.08b) * Re(9.33%) + D(2.30b)/V(5.08b) * Rd(1.10%) * (1-Tc(0.21)))
Discount Rate = 9.33% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.12%
[DCF] Fair Price = unknown (Cash Flow -343.3m)
EPS Correlation: 58.65 | EPS CAGR: 13.35% | SUE: -0.43 | # QB: 0
Revenue Correlation: 63.39 | Revenue CAGR: 56.07% | SUE: 0.29 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.48 | Chg7d=+0.003 | Chg30d=-0.020 | Revisions Net=-5 | Analysts=9
EPS current Year (2026-12-31): EPS=1.94 | Chg7d=+0.011 | Chg30d=-0.086 | Revisions Net=-6 | Growth EPS=+1.5% | Growth Revenue=+9.2%
EPS next Year (2027-12-31): EPS=1.97 | Chg7d=+0.000 | Chg30d=-0.086 | Revisions Net=-3 | Growth EPS=+1.6% | Growth Revenue=+6.2%
[Analyst] Revisions Ratio: -1.00 (0 Up / 5 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -2.9% (Discount Rate 9.3% - Earnings Yield 12.2%)
[Growth] Growth Spread = +8.0% (Analyst 5.1% - Implied -2.9%)

Additional Sources for HTGC Stock

Fund Manager Positions: Dataroma | Stockcircle